Astera Labs (NASDAQ:ALAB) Issues Q4 Earnings Guidance

Astera Labs (NASDAQ:ALAB) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.25-$0.26 for the period, compared to the consensus estimate of $0.18. The company issued revenue guidance of $126-$130 million, compared to the consensus revenue estimate of $107.94 million. Astera Labs also updated its Q4 2024 guidance to 0.250-0.260 EPS.

Analyst Ratings Changes

ALAB has been the subject of several analyst reports. Craig Hallum upped their price objective on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday. Barclays raised their price objective on shares of Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday. Stifel Nicolaus upped their target price on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised their price objective on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Astera Labs has a consensus rating of “Buy” and a consensus target price of $86.45.

Astera Labs Price Performance

Shares of NASDAQ:ALAB traded up $20.37 during trading on Tuesday, reaching $90.02. 10,807,791 shares of the company’s stock traded hands, compared to its average volume of 2,795,832. Astera Labs has a 12 month low of $36.22 and a 12 month high of $95.21. The company has a 50 day moving average of $54.88 and a 200-day moving average of $57.89.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. The business had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. Astera Labs’s revenue for the quarter was up 47.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Astera Labs will post -0.54 EPS for the current year.

Insider Activity at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 42,090 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the sale, the general counsel now directly owns 333,474 shares in the company, valued at approximately $13,482,353.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, General Counsel Philip Mazzara sold 42,090 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the transaction, the general counsel now owns 333,474 shares in the company, valued at $13,482,353.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sanjay Gajendra sold 110,000 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $69.47, for a total value of $7,641,700.00. Following the sale, the insider now directly owns 835,000 shares in the company, valued at approximately $58,007,450. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 564,458 shares of company stock worth $31,970,841 in the last 90 days.

Astera Labs Company Profile

Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.